China has successfully accomplished all strategic objectives outlined in its 14th Five-Year Plan (2021-2025), with eight key socioeconomic indicators surpassing expectations, the National Development and Reform Commission announced on Tuesday.
The announcement was made at the first of a series of press conferences hosted by the State Council Information Office on reviewing the plan's implementation.
At the press conference, Zheng Shanjie, chairman of the NDRC, said that "Among the major targets set in the 14th Five-Year Plan formulated five years ago, indicators such as economic growth, overall labor productivity, and research and development expenditure have all met expectations. Eight indicators, such as urbanization rate of permanent residents, average life expectancy, and comprehensive production capacity of grain and energy, have exceeded the targets."
"All strategic tasks outlined in the plan have been fully implemented, with 102 major projects progressing steadily. Overall, the past five years have witnessed pioneering advances, transformative breakthroughs, and historic achievements in economic and social development," Zheng noted.
China's economic scale is projected to reach nearly 140 trillion yuan by the plan's conclusion, representing a 35 trillion yuan expansion since 2021 that equals the total GDP of the world's third-largest economy. The country has consistently contributed about 30 percent of global economic growth annually throughout the period, the official said.
Significant advancements have been made across multiple sectors.
National research and development expenditure in 2024 increased by nearly 50 percent compared to the levels of 2020, with an incremental investment of 1.2 trillion yuan, Zheng said.
Household incomes have risen substantially, with per capita disposable income growing from 32,000 yuan to 41,000 yuan at an annual real growth rate of 5.5 percent, he said.
The private sector has flourished, with the number of private enterprises increasing to over 58 million, marking a 40 percent growth compared to the end of the 13th Five-Year Plan period,Zheng said.
Milestones have been achieved in the country's green development, with forest coverage surpassing 25 percent, renewable energy capacity exceeding coal power for the first time, global leadership in clean energy system being established, and green electricity now accounting for over one-third of total power consumption, he noted.
The 14th Five-Year Plan period has also witnessed strengthened security foundations of food, energy, industry resilience and national defense, and these collective achievements have reinforced China's position as the most stable, reliable and proactive force driving the global development, the official added.
China achieves historic progress in implementing 14th Five-Year Plan
